The Naira maintained stability against the United States Dollar on Thursday, February 26, 2026, following the Central Bank of Nigeria’s shift into a “stabilization phase.”

This development came after the Monetary Policy Committee meeting earlier in the week.

The currency traded within a consolidated range, bolstered by foreign reserves reaching a 13-year high.

In the official window, the Naira opened at 1,351.12 per dollar.

By mid-morning trading, the rate showed marginal improvement, dipping to 1,347.99 before stabilizing near 1,350.13.

This performance aligned with Wednesday’s closing activities, as the market adjusted to the 50-basis-point cut in the Monetary Policy Rate.

Market liquidity stayed robust.

The CBN continued its proactive approach by mopping up excess bank liquidity while maintaining a steady supply of dollars for essential imports.

The official mean rate for the week settled near 1,349, indicating greater transparency and lower volatility in the Nigerian Autonomous Foreign Exchange Fixing.

The parallel market reflected similar stability to the official window.

The dollar exchanged at rates between 1,355 and 1,365 per dollar.

The spread between the official and parallel markets stayed narrow, at less than 1.5%.

Informal traders in key hubs such as Lagos and Abuja reported that demand was being met by available supply.

This resulted largely from the central bank’s policy of granting Bureau De Change (BDC) operators regular access to foreign exchange.

The convergence has greatly reduced speculative pressures that usually push the black market rate far from official levels.

Several major macroeconomic indicators shaped the Naira’s path on this Thursday.

The reduction of the MPR to 26.50% reflected the apex bank’s confidence in the ongoing disinflationary trend.

While a rate cut can sometimes weaken a currency, investors interpreted this step as a move toward sustainable growth.

Nigeria’s external reserves rose to $50.45 billion, the highest in 13 years.

This level provides nearly 10 months of import cover, creating strong protection against external shocks.

Headline inflation eased to 15.10% in January, achieving ten consecutive months of decline.

This slowdown in price growth enhanced the real value of the Naira, increasing its appeal to domestic and foreign holders.

The economy is on track for a projected GDP growth rate of 4.68% in 2026.

Positive sentiment from this outlook has begun influencing currency markets, promoting long-term capital inflows.

Financial analysts anticipate the Naira will hold its current range between 1,345 and 1,355 for the rest of the week.

The market awaits additional signals from fiscal authorities on structural reforms in the energy and agricultural sectors.